Mail Tribune Business - London Fog closes store in Phoenix

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London Fog closes store in Phoenix Wire and staff reports PHOENIX -- The London Fog outlet at the Pear Tree Factory Stores is one of 108 being closed by the clothing retailer. A going-out-of-business sale began Friday, and the closure will eliminate the jobs of four employees, according to store manager Jo Ann Chambers. No firm closure date has been set. London Fog filed for Chapter 11 bankruptcy protection in September. Last week, the court appointed a liquidation company to sell more than $100 million in inventory and close 108 of the company's 140 stores. The closures span the United States, including locations in 35 states. The Phoenix store is the only one in Oregon being closed. The closings will force layoffs of about 440 workers nationwide. The company, whose U.S. operations are based in Elderberg, Md., said it owes its largest 20 creditors about $101 million. Through the reorganization, the company hopes to trim that debt and emerge from bankruptcy early next year. London Fog had a retail store in the Medford Center in the early 1990s. It was one of the original retailers in Pear Tree Factory Stores when that center opened in 1993. Today's Business Index Mail Tribune Copyright � The Mail Tribune 1999, Medford, Oregon USA